Share markets in India have recovered early morning losses and are presently trading on a positive note.

Barring IT sector and automobile sector, all sectoral indices are trading on a positive note with stocks in the capital goods sector and FMCG sector witnessing maximum buying interest.

The BSE Sensex is trading up by 221 points while the NSE Nifty is trading up by 66 points. The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.7%.

The rupee is trading at 71.58 against the US$.

Speaking of Indian stock markets, if you look at the returns over the years, you will see that the markets have never moved in a linear fashion.

It has never been a one-way street - only up or down.

Stock markets have always moved in cycles.

If you would have bought stocks when either the Sensex or the Smallcap index was in a downturn, you would have made big returns once the cycle turned and the bulls took over.

The Time to Buy Stocks is Now

The economic slowdown does not herald the end of the world or for that matter the end of India. It's a phase and like all phases - This too shall pass.

The real question is - Are you taking advantage of these price declines to buy quality stocks?

In news from the finance sector, shares of Equitas Holdings (EHL) crashed 10% in early trade today, after the Reserve Bank of India (RBI) denied extending the deadline for its subsidiary Equitas Small Finance Bank (ESFB), to get listed at the bourses.

As per the rules of RBI, small finance banks having a capital base of over Rs 5 billion, have to list within three years from commencement of operations. ESFB, therefore, had to get listed on or before September 4, 2019.

Subsequent to the deadline being lapsed, an extension was requested which was denied by the central bank. EHL had also approached markets' regulator with a reverse merger proposal but the regulator turned down the request.

The company in a regulatory filing said, "as the regulator did not consent to this (extension of the deadline) proposal, the Boards of EHL and ESFB had approved a Scheme of Arrangement wherein, ESFB would capitalize its free reserves and issue shares of ESFB to the shareholders of EHL without cash consideration, in proportion to their holding in EHL."

The company added that in case the scheme of arrangement does not get approved, ESFB would be taking immediate steps for an IPO and get its shares listed as soon as possible.

The RBI also curtailed ESFB from opening new branches with immediate effect, till further advice. The RBI further said, it has also frozen the remuneration of the MD & CEO of ESFB, at the existing level.

Equitas Holdings share price is presently trading down by 7.8%.

Moving on to news from the engineering sector, Larsen & Toubro (L&T) has secured a major contract to construct residential project in Navi Mumbai.

The buildings & factories business of L&T Construction has secured a residential project from the City and Industrial Development Corporation of Maharashtra (CIDCO) to construct 23,432 dwelling units with on-site infrastructure works at various locations in Navi Mumbai.

The project, being part of the Pradhan Mantri Awas Yojana (PMAY), envisages construction of economically weaker section (EWS) and low-income group (LIG) type of dwelling units. The building configurations vary from 13 to 20 storeys.

The order falls in the 'major' category whose valuation lies between Rs 50 to Rs 70 billion.

In a separate announcement, the company also announced that Mr. Akhilesh Krishna Gupta, independent director who was appointed for a term of five years from 9 September 2014 to 8 September 2019 has ceased to be a director of the company on account of completion of his term of office.

L&T share price is presently trading up by 1.9%.